Entrepreneurial Firms in Pursuit of Resilience: An Empirical Study of Dynamic Capabilities in the Lab-Grown Food and Dairy Industry

Abstract: This thesis contributes to the exploration of business models with an aspect of change, by ap- plying the concept of dynamic capabilities. The aim is to explore how entrepreneurial firms utilise dynamic capabilities in order to create resilient business models in times of technological change and uncertainty. Therefore, a multiple case study was conducted on the lab-grown food and dairy industry. The dynamic capabilities of sense, seize, and transform were the units of analysis and different activities pursued by the firms were identified within. Sensing is about acknowledging opportunities, threats and barriers from technological change and the competitive environment. Seizing of opportunities directly influences a firm’s BM, interdependencies must be considered carefully and strategic choices supporting flexibility should be favoured. Transformation regards the reconfiguration of the established organizational structure and processes within. The empirical results led to the replacement of transform, with shape. Shaping rather regards actively shaping the organisational structure and culture as the company grows to facilitate agility, thus is more applicable to start-ups. A firm that senses the environment, creates strategic options, and seizes them through adjustments in the business model while shaping culture and organizational structure in times of technological change and uncertainty, will eventually create long-term competitive advantages and thus, acquire a resilient business model.